Wynn Boots Ex-Friend From Casino Board Over Alleged Bribes

Law360, New York (February 24, 2012, 1:24 PM EST) -- Billionaire Steve Wynn booted his former friend and business partner Kazuo Okada from the board of his Macau casino company on Friday over allegations the Japanese tycoon bribed gambling regulators in the Philippines and elsewhere.

In an escalation of the bitter battle between the estranged former friends and billionaires, Wynn convinced the board of Wynn Macau Ltd. to oust Okada after a company-commissioned investigation uncovered apparent violations of U.S. anti-corruption laws and the company's code of conduct by Okada and his associates, including cash payments and...